Cubist Systematic Strategies LLC Purchases Shares of 82,864 Teekay Tankers Ltd. (NYSE:TNK)

Cubist Systematic Strategies LLC purchased a new position in shares of Teekay Tankers Ltd. (NYSE:TNK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 82,864 shares of the shipping company’s stock, valued at approximately $3,297,000. Cubist Systematic Strategies LLC owned about 0.24% of Teekay Tankers as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC grew its position in Teekay Tankers by 7.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company’s stock worth $168,000 after purchasing an additional 286 shares during the last quarter. Kendall Capital Management lifted its stake in shares of Teekay Tankers by 3.3% during the fourth quarter. Kendall Capital Management now owns 17,965 shares of the shipping company’s stock worth $715,000 after buying an additional 580 shares during the period. Sterling Capital Management LLC grew its holdings in shares of Teekay Tankers by 7.0% during the fourth quarter. Sterling Capital Management LLC now owns 10,555 shares of the shipping company’s stock valued at $420,000 after buying an additional 686 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Teekay Tankers by 5.9% in the 4th quarter. MetLife Investment Management LLC now owns 14,901 shares of the shipping company’s stock valued at $593,000 after acquiring an additional 834 shares during the period. Finally, R Squared Ltd purchased a new position in Teekay Tankers in the 4th quarter worth $41,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TNK. Jefferies Financial Group reiterated a “buy” rating and set a $55.00 price target on shares of Teekay Tankers in a research note on Thursday. Evercore ISI dropped their target price on Teekay Tankers from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.

Teekay Tankers Trading Up 3.1 %

Shares of NYSE:TNK opened at $45.27 on Friday. The company has a market capitalization of $1.55 billion, a PE ratio of 4.00 and a beta of -0.10. Teekay Tankers Ltd. has a 12-month low of $33.35 and a 12-month high of $74.20. The business has a 50 day moving average of $39.25 and a two-hundred day moving average of $40.98.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings results on Wednesday, May 7th. The shipping company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.32). Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The firm had revenue of $115.64 million for the quarter, compared to analysts’ expectations of $146.31 million. During the same period last year, the company posted $4.23 earnings per share. The business’s quarterly revenue was down 37.1% on a year-over-year basis. Equities research analysts predict that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Increases Dividend

The firm also recently declared a — dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be paid a $1.00 dividend. This represents a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, May 19th. This is a positive change from Teekay Tankers’s previous — dividend of $0.25. Teekay Tankers’s payout ratio is currently 8.83%.

Teekay Tankers Profile

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.